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  • HSBC Group COO Suzy White to Amplify Singapore Unit’s Strength as New Board Member

    HSBC Group COO Suzy White to Amplify Singapore Unit’s Strength as New Board Member

    Suzy White, the Global Chief Operating Officer (COO) for London’s HSBC, is set to join the board of HSBC’s Singapore branch. HSBC Singapore made this announcement recently, confirming White’s addition to their executive team.

    White’s professional journey has been marked by remarkable leadership roles and extensive experience in various sectors including global business, risk management, finance, operations, and transformation. With a career spanning 25 years at HSBC, she has held notable roles such as the COO for Global Banking and Markets, Regional COO for Global Markets in the Americas, and Chief Risk Officer for Global Banking and Markets and Commercial Banking in the US. Additionally, White was previously on the board of HSBC Securities and the Commodities Futures Trading Commission Market Risk Advisory Committee.

    HSBC Singapore has expressed optimism about her joining the board, stating their expectation to capitalize on her vast expertise and experience to amplify the bank’s standing in Singapore. They aim to solidify their position as a leading international bank in the domain of global wealth in Singapore.

    Singapore plays a pivotal role in the Group’s strategic positioning. It serves as an international hub for wealth, a regional hub for treasury infrastructure, and a global center for innovation and sustainability. With this appointment, the bank looks forward to reinforcing its strong presence in these areas.

    Questions & Answers

    Who is joining the board of HSBC Singapore?
    Suzy White, the Global Chief Operating Officer of HSBC, is joining the board of HSBC Singapore.

    What roles has Suzy White held in her career at HSBC?
    White has held multiple key roles at HSBC, including the COO for Global Banking and Markets, Regional COO for Global Markets in the Americas, and Chief Risk Officer for Global Banking and Markets and Commercial Banking in the US.

    What is the significance of Singapore for HSBC Group?
    Singapore is a priority market for HSBC Group – it serves as an international wealth hub, a regional hub for treasury centres, and a global center for innovation and sustainability.

  • AS Watson sales grew 7 per cent last year, despite protests

    AS Watson sales grew 7 per cent last year, despite protests

    Health-and-beauty retailer AS Watson recorded 7 percent growth last year despite the political unrest in its key Hong Kong market.

    “What’s worth mentioning is the growth of health and beauty in Asia which was significantly impacted by the social unrest in the second half of 2019,” said AS Watson Group MD Dominic Lai. “If you take it out, the rest of Asia [outside Hong Kong] was growing at 14 percent, which is very healthy,” he said in comments translated by the South China Morning Post.

    Watsons Hong Kong represented just 2.6 percent of the retail division’s pre-tax profit last year.

    The retailer operates more than 15,000 stores in 25 international markets, predominantly in the health-and-beauty category. The sector benefited from developments in digital retail, house brands and exclusive offerings, and an uptick in customer connectivity with its 137 million-strong membership base.

    The firm expects its China trading this year to be affected by the coronavirus pandemic but is confident that its profits will be sustainable profitability given its geographical diversity, strong partner relationships and loyal member base.

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  • Hyundai Motor starts its monthly car subscriptions

    Hyundai Motor starts its monthly car subscriptions

    Hyundai Motor on Monday introduced a car-subscription program with a monthly fee of 720,000 won ($646).  Under the program, dubbed Hyundai Selection, three models are available for users and subscribers can change models on a limited basis. The vehicles currently being offered are the Sonata sedan, the Tucson SUV and the Veloster hatchback.

    Users can use the Hyundai Selection app to apply and pay for the service. Cars will be delivered. The company is testing the subscription service business model as car sharing and rental are popular with younger customers who tend to avoid ownership and embrace more transactional business relationships.

    Hyundai said it is running the program on a 10-month pilot basis this year. As the program is still in test mode, only 50 drivers will be able to enroll. Car delivery will be limited to Seoul.

    The service was launched in collaboration with domestic rental-car companies and Deal Car, a Hyundai Capital enterprise.

    A Hyundai spokesperson said the subscription program greatly reduces the burden of car maintenance

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